Urban Edge recently received a $35,000 grant from Santander Bank to supplement its Homeowner and Financial Education program, according to a press release. The program offers first-time homebuyer education, foreclosure prevention counseling and student loan counseling.
Santander’s funding is through its charitable grant program, which supports initiatives in financial education, neighborhood revitalization, small business development, affordable housing and other community services.
“Homeownership continues to be a struggle in the City of Boston, but Urban Edge has a proven track record of helping to support new homeowners and stabilize neighborhoods,” said Frank Shea, executive director of Urban Edge, according to the press release. “Santander’s funding will assist us in creating even more new homeowners and curb the displacement of families and individuals who cannot afford to live in their communities anymore.”
Almost 3,000 families have purchased homes with the help of Urban Edge since 1995. The grant will support Urban Edge in its mission to create new homeowners, help reduce student debt, and counsel participants about how to avoid foreclosure.
In addition to the funding, Santander will send bank representatives to teach Urban Edge’s first-time homebuyer classes, which will be held in English, Spanish, and Haitian Creole.
“The organizations we support reflect our values as a company and provide opportunities that enrich the lives and economic futures of underserved children, young adults, and families,” said Jerry Plush, chief administrative officer for Santander US, according to the press release. “Part of becoming the best bank in the communities we serve includes embracing the important responsibility we have to drive change and make meaningful contributions where we live and work.”